Unique tool aims to save real estate from foreclosure

Can 'bonded bill of exchange order' pay off mortgage?
Published on Feb 22, 2006

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by CareyBot

The McElroys fell behind on their home loan payments. Their lender, Chase Manhattan Mortgage Co., notified them they could reinstate their mortgage and avoid foreclosure by paying the $7,238 in missing payments and costs. Instead, the McElroys tendered payment to ...